The Pay Advances Playbook series, a PYMNTS and Mastercard collaboration, is based on a survey of more than 2,200 gig workers. The Breaking The Paycheck-To-Paycheck Cycle edition examines how financially constrained gig workers feel about possibility receiving early payment for their ad hoc jobs.
Key Findings in the Study Include:
- 66.8 percent: Share of paycheck-to-paycheck gig workers who would consider switching to platforms that offer pay advances
- 53.4 percent: Portion of paycheck-to-paycheck workers who would use pay advances to cover bills and expenses
- 48.5 percent: Segment of paycheck-to-paycheck workers who believe pay advances would provide greater financial flexibility